BCE (NYSE:BCE) Shares Down 2.5% – Time to Sell?

BCE Inc. (NYSE:BCE) (TSE:BCE)’s stock price traded down 2.5% on Friday . The company traded as low as $22.91 and last traded at $23.04. 926,649 shares traded hands during trading, a decline of 68% from the average session volume of 2,931,439 shares. The stock had previously closed at $23.63.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays cut their target price on BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Edward Jones lowered BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. National Bank Financial downgraded BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley initiated coverage on shares of BCE in a research note on Monday, December 16th. They issued an “underweight” rating for the company. Finally, Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.00.

BCE Price Performance

The stock’s 50 day moving average is $25.79 and its two-hundred day moving average is $31.04. The stock has a market capitalization of $21.11 billion, a PE ratio of 330.57, a price-to-earnings-growth ratio of 4.04 and a beta of 0.56. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

BCE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 12.74%. This is an increase from BCE’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, December 16th. BCE’s payout ratio is 4,214.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. AE Wealth Management LLC boosted its stake in BCE by 2.6% in the second quarter. AE Wealth Management LLC now owns 14,383 shares of the utilities provider’s stock valued at $466,000 after acquiring an additional 367 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its holdings in shares of BCE by 3.9% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 11,856 shares of the utilities provider’s stock valued at $413,000 after purchasing an additional 445 shares during the last quarter. First Affirmative Financial Network grew its stake in BCE by 6.1% during the 3rd quarter. First Affirmative Financial Network now owns 8,181 shares of the utilities provider’s stock worth $285,000 after buying an additional 472 shares during the last quarter. Prospera Financial Services Inc increased its position in BCE by 6.8% during the third quarter. Prospera Financial Services Inc now owns 7,534 shares of the utilities provider’s stock worth $262,000 after buying an additional 478 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in BCE by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 43,402 shares of the utilities provider’s stock valued at $1,006,000 after buying an additional 520 shares during the last quarter. 41.46% of the stock is owned by hedge funds and other institutional investors.

BCE Company Profile

BCE Inc, a communications company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.